How Do Business Owners Get Benefit By Using Quickbooks Software

jenniferscott By jenniferscott, 30th Nov 2017 | Follow this author | RSS Feed | Short URL http://nut.bz/h4kz9pfc/
Posted in Wikinut>Business>Accounting & Finance

If you haven’t heard about QuickBooks, then it’s nothing but anaccounting software with a host of features. While professionals are managing their daily activities, they can use the application for entering details and maintaining accounts. So, here’s how QuickBooks can help small size businesses.

Most Important Benefits

Controls Cash Flow
If you are concerned about managing the cash flow, then QuickBooks can always serve to be a great tool. Instead of checking the bank balance through an online website, you can update the files on a regular basis. Apart from entering relevant details about financial transactions, the application gives you an idea about the status of numerous bank accounts. You would surely find the easiest way to perform tasks related to daily reconciliations.

Create Invoices
When you need to create a document for the customer who purchases products or avails different services, the tool can turn out to be useful. You can train clients on how they should create invoices and send them as an attachment. Eventually, you would be in a better position to decrease account receivables and increase the cash flow.

Manage Accounts Payable
Since you wish to maintain a relationship with suppliers and vendors, you should fail to furnish details regarding the outstanding amount. With the ‘enter bills’ and ‘pay bills’ function, you can be pretty sure about the payment terms and due dates. Through the ‘online bill pay’ and several other options, you can do away with the effort of entering data and serve to be the best in enhancing productivity.

Manage Time
Once you launch QuickBooks and view the home screen, employee time management is easy and simple. You can either use a weekly timesheet or enter an event whenever the need arises. Once you are successful in tracking time, you can gauge the productivity and keep a record of costs associated with tasks. In the end, you could maintain data that’s relevant to the entire gamut of operational activities.

Journal Entries
QuickBooks can be used for journal entries which can be referred when you face issues or have to match tax returns with the certified public accountant. Although journal entries are a part of the accounting process, you should still know what it actually means. Once you have understood the terms, you would be delighted to use the tools with ease.

Accept Online Payments
If the customer is not able to pay a huge amount, then you can always enable the payment network services and help him pay for the invoice. But, in this case, you would be charged $0.50 for every transaction. So, when you raise a $50,000 invoice you would have to pay $0.50 for the money to be credited to the account.

Payroll Management
As you explore the features, you can use the outsourced payroll service for processing the payroll directly. Just make sure that you don’t commit a mistake in the entering the details. Once you get acquainted with the software, you can import files and calculate deductions and taxes in addition to performing the usual task. For any queries, you can get in touch by calling us on QuickBooks Payroll Support Number.

Customize Reports
Based on your requirements, you can customize a set of reports and organize them at a single location. For easy access, you can create a list known as ‘owner reports’ under the ‘Reports/Memorized Reports’ section. Moving ahead, you can change the settings and save the report the way you wish. For instance, if you have prepared a report in the month of October and alter the settings in September but access the file in December, then the report would be automatically updated with data fed during the month of November.

Web Apps
You can enhance the functionality of QuickBooks by using a range of apps. Among the applications, the time tracker permits employees to enter the time through a computer, tablet or smartphone. Post approval, the time then gets updated in the QuickBooks file.

Finally, many business owners use the tool for filing tax returns and make business decisions after the financial reports are analyzed.

Since many years, QuickBooks Support has helped users to resolve errors, the installation process, how to use the accounting software and in customizing the tool.

Feel free to call us on 1-877-227-2303 to know how we can help you with issues you might encounter with QuickBooks.

Tags

Importance Of Quickbooks, Quickbooks Software

Meet the author

author avatar jenniferscott
I am Jennifer Scott. I have got into writing professionally and uploads regular informative articles.

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